Intech Investment Management LLC Acquires 14,910 Shares of C3.ai, Inc. (NYSE:AI)

Intech Investment Management LLC increased its stake in shares of C3.ai, Inc. (NYSE:AI - Free Report) by 42.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,372 shares of the company's stock after buying an additional 14,910 shares during the quarter. Intech Investment Management LLC's holdings in C3.ai were worth $1,734,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brown Lisle Cummings Inc. boosted its stake in shares of C3.ai by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company's stock worth $28,000 after buying an additional 400 shares during the last quarter. R Squared Ltd purchased a new position in C3.ai in the fourth quarter worth $29,000. CENTRAL TRUST Co bought a new position in C3.ai in the 4th quarter valued at $34,000. Global Retirement Partners LLC increased its position in shares of C3.ai by 1,004.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,115 shares of the company's stock valued at $38,000 after purchasing an additional 1,014 shares during the last quarter. Finally, Quest Partners LLC raised its stake in shares of C3.ai by 9,033.3% during the 3rd quarter. Quest Partners LLC now owns 1,644 shares of the company's stock worth $40,000 after purchasing an additional 1,626 shares during the period. 38.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on AI shares. DA Davidson dropped their target price on shares of C3.ai from $40.00 to $25.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. JMP Securities upped their price objective on C3.ai from $40.00 to $55.00 and gave the company a "market outperform" rating in a research note on Tuesday, December 10th. StockNews.com raised C3.ai to a "sell" rating in a research report on Tuesday, November 26th. KeyCorp dropped their price target on C3.ai from $29.00 to $21.00 and set an "underweight" rating on the stock in a research report on Thursday, February 27th. Finally, Morgan Stanley decreased their price objective on C3.ai from $32.00 to $30.00 and set an "underweight" rating for the company in a report on Thursday, February 27th. Five analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $31.33.

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C3.ai Stock Performance

C3.ai stock traded down $0.45 during midday trading on Wednesday, reaching $23.05. 2,062,451 shares of the stock were exchanged, compared to its average volume of 4,808,645. C3.ai, Inc. has a 52 week low of $18.85 and a 52 week high of $45.08. The firm has a market cap of $3.06 billion, a PE ratio of -10.43 and a beta of 2.03. The company's fifty day moving average is $28.12 and its 200-day moving average is $29.40.

C3.ai (NYSE:AI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.37). C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. The business had revenue of $98.78 million during the quarter, compared to analysts' expectations of $98.12 million. On average, sell-side analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Insider Transactions at C3.ai

In other news, VP Merel Witteveen sold 11,132 shares of the company's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $34.95, for a total value of $389,063.40. Following the completion of the transaction, the vice president now directly owns 4,142 shares in the company, valued at approximately $144,762.90. This represents a 72.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas M. Siebel sold 409,831 shares of the stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $30.97, for a total value of $12,692,466.07. Following the transaction, the chief executive officer now owns 1,756,390 shares in the company, valued at $54,395,398.30. This trade represents a 18.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,510,546 shares of company stock valued at $43,235,262. 33.54% of the stock is owned by corporate insiders.

C3.ai Company Profile

C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company provides C3 AI platform, an application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; C3 AI Ex Machina for analysis-ready data; C3 AI CRM, an industry specific customer relationship management solution; and C3 Generative AI Product Suite that enables to locate, retrieve, and present information.